Advance Earned Income Credit

Business, Legal & Accounting Glossary

Definition: Advance Earned Income Credit


Advance Earned Income Credit


Full Definition of Advance Earned Income Credit


A provision that allowed employees to receive their earned income credit as an advance in their paycheck throughout the year. The earned income credit is a refundable tax credit intended for low-income workers. The advance option was discontinued at the end of 2010. Now individuals must claim the credit on their income tax returns.


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Advance Earned Income Credit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
December 04, 2021 https://payrollheaven.com/define/advance-earned-income-credit/.
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Advance Earned Income Credit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/advance-earned-income-credit/ (accessed: December 04, 2021).
American Psychological Association (APA):
Advance Earned Income Credit. PayrollHeaven.com. Retrieved December 04, 2021
, from PayrollHeaven.com website: https://payrollheaven.com/define/advance-earned-income-credit/

Definition Sources


Definitions for Advance Earned Income Credit are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.